Ruijing I Final Batch Sells Out All 101 Units in One Day, Nearly HK$4.56B Raised in Three Rounds
On.cc · 1 SOURCESabout 4 hours ago2 MIN
Summary
China Resources Land (Overseas) confirmed on Saturday that Ruijing I in Southwest Kowloon achieved a sell-out of its final batch of 101 units offered via price list. The project, spanning three sales rounds over just 15 days, has cumulatively sold 482 units through both price-list and tender mechanisms, raising approximately HK$4.56 billion. The strong buyer turnout and record oversubscription rates underscore sustained demand for new private residential units in Hong Kong.
Key Points
- The 101-unit final batch sold out on the same day, with a 90 percent attendance rate among registered buyers
- Three sales rounds in 15 days moved 482 units totaling HK$4.56 billion in proceeds
- Buyer mix comprised 20 percent bulk buyers, 30 percent local family branches, 20 percent upgraders, and 30 percent mainland buyers, talents, and overseas returnees
- A-group bulk buyer session saw 42 units subscribed within two hours, generating over HK$30 million
- Five groups purchased the maximum four units each, with deal values ranging from HK$32.1 million to HK$39 million
- Tender deals on the same day totaled 18 units; cumulative tender sales reached 68 units worth over HK$950 million
- A rooftop unit on the 48th floor of Tower 3A sold for a record HK$19.1915 million, or HK$29,300 per square foot
- The final round drew 58,183 subscription registrations, representing a 575-fold oversubscription for the 101 units
Why It Matters
The robust sales performance of Ruijing I, with nearly 58,000 registrations for just 101 units, signals continued strong underlying demand for new private residential properties in Hong Kong despite broader market uncertainties. The project's success, particularly the record-breaking per-square-foot price achieved through tender, highlights premium pricing power in select prime locations and may influence future pricing strategies for upcoming new launches in the market .
The robust sales performance of Ruijing I, with nearly 58,000 registrations for just 101 units, signals continued strong underlying demand for new private residential properties in Hong Kong despite broader market uncertainties. The project's success, particularly the record-breaking per-square-foot price achieved through tender, highlights premium pricing power in select prime locations and may influence future pricing strategies for upcoming new launches in the market .